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Coastal golf course and tourism resort teed-up for sale

One of New Zealand’ s most picturesque coastal golfing resorts and adjoining residential or commercial accommodation development land have been placed on the market for sale.

The Dunes Golf Resort at Matarangi on the Coromandel Peninsula is an 18-hole course built on a sandspit peninsula, and features a handful of holes built around man-made lakes overlooked by holiday homes and resort-linked apartment units.

In addition to the 18 holes, The Dunes Golf Resort sale package includes the fully licensed clubhouse/bar/restaurant - which acts not only as a respite for golfers at the end of a round, but also as a community food and beverage destination for Matarangi residents and holiday-makers.

The offering also includes nine two and three-bedroom villas rented either as holiday homes, or for accommodating corporate clients booking the resort clubhouse and course for meetings, conferences or incentive packages. The 120 square metre fully-furnished villas have advertised rack rates of between $250 - $400 depending on seasonality and room size.

An additional 20 bare villa sites are included in the sale offering. The sections are approximately 500 square metres each and overlook the seventh tee and lake.
The 34 hectares of course, club buildings, villas and bare land sites are being jointly offered for sale by Bayleys Real Estate and JLL through a price-by-negotiation process.

Bayleys Real Estate salesperson James Hill said that as a ‘beachside’ destination, most of the resort’s revenues came in through the November to April main summer and shoulder periods.

“The opportunity for any new owner is to take-over a virtual turn-key operation and look at building revenues over the middle part of the year,” Mr Hill said.

“The Dunes Golf Resort operates as a multi-faceted business – deriving revenues from its golfing operations, as a food and beverage outlet to a local community whose population fluctuates wildly over the calendar year, and as a function and destination venue for the corporate sector during the week and leisure markets on the weekends.

“The business would therefore suit new owner/operators with a background and experience in the likes of a boutique upmarket lodge or destination function centre. It would also be an attractive proposition for two couples to take over – dividing potential expertise between front of house and back of house, with an overarching emphasis on marketing.”

The 850 square metre clubhouse and hospitality centre is configured to accommodate corporate meetings and conferences for up to 40 people in a theatre seating arrangement. Meanwhile, the venue’s restaurant and bar areas can comfortably seat up to 170 guests for larger functions such as weddings and birthday parties.
The Dune’s kitchen is fully serviced by commercial-standard catering and food preparation equipment such as grills, ovens and deep fryer. Meanwhile, the bar has tap beer lines as well as back-bar refrigeration units.

Food and beverage, and housekeeping staff, are employed on an ‘as and when required’ contract basis to service specific events and functions as well as during the peak summer months. Outside of busy periods, a skeleton staff of three full time employees operate the course’s pro’ shop, starter’s office and adjacent restaurant and bar.

Some 16 of the adjoining privately-owned villas within the course grounds are placed in a fully-managed accommodation pool.

Matarangi has a resident population of approximately 350 people – a census which swells to more than 7000 over the holiday and summer months. The resort town was established in 1978 and features a mix of lavish beachfront mansions and affordable holiday homes located further inland and around the helicopter landing pads.

Matarangi Beach – viewed from the first and second holes – stretches 4.5 kilometres and has an all-tide boat ramp. The sand-based par 72 course measures 6176 metres off the back tees, or 5778 of the standard men’s tees. The course was designed by legendary kiwi golfer Sir Bob Charles and opened in the 1980s.

Mr Hill said the topography and design of the course meant fairway and green maintenance could be easily managed with four greenkeepers. Infrastructure on the course includes a 265 square metre greenkeeper’s machinery shed and administrative office – housing gang-mower, vegetation control equipment, and a green mower.

The course has a computer-controlled German-designed irrigation system to water fairways, tee areas and green. The $2 million irrigation system draws unlimited water from the course’s central collection lakes – ensuring lush conditions virtually year-round. Ten electric-powered Yamaha golf carts are also available for hire by players.

Mr Hill said it was highly possible that The Dunes Golf Resort would join a trend of established New Zealand golfing resorts going into foreign ownership – underpinning growing visitor numbers from China.

“Over the past two years we have noted Chinese investors buying and developing similar tourism-related properties in Northland through the Carrington Club hotel, winery and golf course complex on the Karikari Peninsula, and the Okorore Hot Springs Hotel and associated golf course in 2014,” he said.

For further information on the sale of The Dunes Golf Resort in Matarangi, or images of the property, contact James Hill at Bayleys. Telephone 021 599 529